GOVERNMENT MUST USE ITS INFLUENCE TO ENSURE BANKS PARTICIPATE IN THE PRIORY HALL RESOLUTION PROCESS-SENATOR AVERIL POWER

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Fianna Fáil Senator Averil Power has called on the Government to use its influence to ensure that the banks participate in the resolution process for Priory Hall chaired by Mr Justice Finnegan.

 

Speaking in the Seanad today, Senator Power welcomed the resolution process that has been agreed to by Dublin City Council and the Priory Hall residents. However, she highlighted the fact that it cannot succeed without the participation of the mortgage lenders, who to date have not signed up.

 

“Over six months have passed since the Priory Hall residents were evacuated from their homes,” said Senator Power. “In that time, the response of the banks has been sorely lacking. Some lenders have allowed residents to pause their mortgage payments while their homes are uninhabitable. But interest is piling up and their overall mortgage debt is increasing every month as a result. This is extremely unfair to families whose homes are uninhabitable.

 

“Last October I tabled a debate in the Seanad highlighting the need for the Government to contact the mortgage lenders and coordinate a consistent and fair response to the needs of the Priory Hall residents. Minister Hogan stated that he would ask his officials to contact the banks, which I welcomed. However, nothing has happened since.

 

“I also wrote to the Taoiseach last month supporting the residents requests for him to raise this issue with the lenders at the April meeting of the Economic Management Council. I have received no reply other than an initial acknowledgment from his office. Today, I am again calling on the Government to show leadership on this issue and use its influence to ensure that the banks sign up to the resolution process chaired by Mr. Justice Finnegan”, Senator Power concluded.

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